According to the research report titled ‘Global Food Processing Seals Market Size study, by Material Type (Metal, Face Materials and Elastomers), by Application (Bakery & Confectionery, Meat, Poultry & Seafood, Dairy Products, Beverages and Others) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global food processing seals market was valued at USD 2.9 billion in 2020 and is expected to reach USD 3.45 billion by the end of 2027, registering a CAGR of 2.5% throughout the forecast timespan.
 

The report states that global food processing seals market is majorly driven by escalating milk production due to rising exports of the product, and growing focus on its safe & hygienic supply. In fact, World Bank states that milk production has grown from 530 million tons in 1988 to 843 million tons in 2018.
 

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Apart from these factors, proliferating demand for packaged and frozen foods, expanding food & beverage sector, surging e-commerce sales, and positive outlook of food processing sector are rendering a favorable scenario for market expansion in the upcoming years.
 

As per credible sources, frozen food market climbed from USD 260.8 billion in 2018 to USD 272.11 billion in 2019 and is expected to hit USD 366.3 billion by the end of projection period, further enhancing the industry remuneration prospects. On the other hand, rising inclination of customers towards organic products may hamper the market progression over the analysis period.
 

The regional analysis of the global food processing seals market highlights North America (U.S., Canada), Europe (UK, Germany, Spain, France, Italy), Asia Pacific (Japan, China, South Korea, India, Australia), and Latin America (Mexico and Brazil). Among these, Europe holds the largest market share due to high demand for processed & packaged foods, as well as strong presence of recognized private companies in the region.
 

Meanwhile, Asia-Pacific is expected to showcase a robust CAGR owing to rising beverage output, favorable government policies boosting transportation and manufacturing industries, and inflowing private sector investments in this region.
 

Coming to the competitive landscape, EnPro Industries, Inc., Trelleborg AB, SKF USA Inc., Flowserve Corp., Aesseal plc, Freudenberg Group, Smiths Group plc, A.W. Chesterton Co., Parker Hannifin, and Idex Corp. are among the major contenders impacting global food processing seals industry trends.